Foran Mining Shares Construction Update for McIlvenna Bay Project
Foran Mining (TSX: FOM) has provided a construction update for its 100%-owned McIlvenna Bay copper-zinc mine, which is progressing toward initial production in the fourth quarter of next year. The project is located in Saskatchewan, about 65 kilometers west of Flin Flon, Manitoba.
McIlvenna Bay hosts the largest undeveloped volcanogenic-hosted massive sulphide (VHMS) deposit in the region. A feasibility study conducted in 2022 envisioned an underground mine with a lifespan of 18 years based on current reserves. The operation will utilize long-hole mining methods and feature a 4,200-tonne-per-day mineral processing plant employing semi-autogenous grinding (SAG) and ball milling, followed by conventional flotation to produce copper and zinc concentrates.
Average annual production from McIlvenna Bay is expected to be 34.5 million pounds of copper, 58.6 million pounds of zinc, 17,500 ounces of gold, and 435,200 ounces of silver, equating to 65.4 million pounds of copper equivalent.
Significant progress has been made in recent months. In October, approximately 343 meters of underground lateral development were completed, marking the greatest monthly advance to date. Excavation of the main ventilation fresh-air raise is underway, with a focus on permanently sealing the sandstone layer to prevent water ingress.
Construction of the concrete floor for the underground battery-electric vehicle (BEV) charging bay began at the 60-meter level, while the pad for the temporary underground maintenance shop was completed. Progress was also made on the foundation formwork and rebar installation for the mill building, with the SAG mill shells, heads, and trunnions installed. The shell of the ball mill was mounted, and some of the structural steel for the plant was staged and pre-assembled.
On the surface, the heavy equipment maintenance shop saw the installation of its concrete floor, structural steel, and crane bridge. Earthworks for the under-pad expansion of the waste rock and ore pad were finalized, with work on the liner and topsoil layer underway.
